BSP names new deputy governor

The Monetary Board (MB) has formally appointed a new Deputy Governor for the Bangko Sentral ng Pilipinas’ (BSP) bank supervision and examination department, replacing Deputy Governor Alberto V. Reyes who will retire on April 19, 2005.

Appointed to head the BSP’s Supervision and Examination Sector (SES) was Assistant Governor Nestor Espenilla Jr, the youngest to ever become a Deputy Governor of the BSP.

Espenilla will be replacing Reyes, considered as the BSP’s most venerable bank examiner and supervisor with over 40 years of experience in bank regulation.

Espenilla’s appointment was recommended by Reyes who said Espenilla was his most logical choice for the position after six years working in various levels of the SES.

Espenilla was originally an external debt analyst and moved to the BSP’s economic research department as an economist before finally heading the supervisory reports and studies office of the BSP as director.

A consistent topnotcher at school, Espenilla completed his business economics course at the University of the Philippines as magna cum laude before snagging a scholarship at the Saitama University’s Graduate School of Policy Science as well as completing his masters in business administration also at UP.